Prefilled syringe is a single use syringe filled with parenteral drug. It helps to exclude various numbers of procedures mandatory for administering a formulation. The global prefilled syringes market is growing at significant rate, due to mounting demand for biologics and biosimilars and emergent injectable drugs pipeline. Different types of syringes contributed to the market size. The market has witnessed high demand for conventional syringes over the last few years due to increasing adoption of self-administered injectable drug.
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Growing adoption of self-injection device and development of technologically advance syringes are the trends in the prefilled syringes market. Increasing combination therapy is also one of the major trends in the market. These syringes manufacturers have developed dual or multi chamber syringe for lyophilized drugs.
The rapid increase in aging population, growing demand for vaccine, increasing prevalence of chronic diseases, increasing healthcare expenditure, growth in disposable income, and increasing usage of home use devices are the primary growth drivers for prefilled syringes market.
Increasing demand for self-injection device is also facilitating the growth for the prefilled syringes market. Moreover, the risk of needlestick injury is reduced in many syringes, due to retractable needles and lack of needles in many systems.
Globally, the manufacturing companies trying to enter the prefilled syringes market are required to maintain stringent regulatory standards. Moreover, the high level of capital requirement also poses a major barrier for the entry of new players. This offers an edge to the established players in the industry competition.
Geographically, Europe is the largest prefilled syringe market as in the region the prevalence of chronic disease is increasing. The increasing prevalence of diabetes is a major concern in Europe.
Asia-Pacific is observed to witness fastest growth in the market, as the region comprises of growing demand for vaccine for the management of chronic diseases and mounting use of biologics and biosimilars.
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Key players in the prefilled syringes industry are catering the demand of these devices by investing on technologically advanced products in their product portfolio across the globe. Becton, Dickinson and Company, Weigao Group, Gerresheimer AG, SCHOTT AG, Catalent, Inc., West Pharmaceutical Services, Inc., Ompi, Vetter Pharma International GmbH, Nipro Corporation, and MedPro Inc. are the key players offering prefilled syringes.
Source: VynZ Research